Carver Federal Savings Bank is one of the most prominent African American operated banks in the United States. In October 2022, the bank partnered with The Greater Harlem Chamber of Commerce for the first-ever Minority Women-Owned Business Pitch Competition.
The Amsterdam News spoke with the two contest winners, Princess Jenkins of The Brownstone and Diane Da Costa of Simplee Beautiful, and the CEO of Carver Federal Savings Bank, Michael T. Pugh, in an exclusive interview.
Dozens of Harlem applicants, who are business owners, public officials and community leaders, participated in the competition. Each contestant filled out an application and highlighted important community matters with the goal of eliminating carbon footprint.
The two winners received a $5,000 grant to fund initiatives that will enhance energy efficiency at their company.
According to a press release, the Minority Women-Owned Business Pitch Competition is “designed to encourage sustainable investments in climate change measures to reduce the disproportionate negative impact on communities of color, [and] invited applicants to submit written business plans that were judged by a panel of Carver Bank Executives. Throughout the contest period, the competition drew interest from female entrepreneurs across New York State.”
After careful review, Jenkins from The Brownstone and Da Costa from Simplee Beautiful were announced as the winners for their innovative efforts in creating a safe work environment that will reduce waste, save energy and lower emissions for their clients and employees.
During the conversation, Jenkins said that she plans on using the award to “help launch a digital catalog for 5,000 clients, which will save over 200 trees and 100,000 sheets of paper per tree.”
“The digital catalog will help reintroduce the brand and increase annual revenues. The award will also be used for energy-efficient lighting and task lightening to reduce cost and energy consumption,” Jenkins explained.
She continued, “As a business, we are always looking for sustainable models in ways we could operate in.”
Da Costa from Simplee Beautiful said that she “will be using her award to upgrade to LED lighting, a new energy efficient HVAC system, a new low flow toilet system, and sustainable and biodegradable packaging for Simplee Beautiful’s CBD wellness products.”
Da Costa revealed that she has already begun construction at Simplee Beautiful.
“As of yesterday, I was already working with the lights. I got some LED lights put in.”
CEO of Carver Federal Savings Bank Pugh said in the press release that “the Women Business Pitch contest is about the entrepreneurial journey of our customers and what they stand for. These contest winners are but two of the many examples of successful business leadership that our entrepreneur program helps to uplift in our banking community.”
With the success of the first competition in 2022, Pugh confirmed that it would return the following year.
“Next year, we plan on doing it much bigger. We also plan on doing games and collaborating with other companies next year as we think beyond just a grant.”
The competition was presented to contestants in October. Each applicant was required to fill out an online application before the deadline. The bank interviewed applicants who were selected for the second round of the competition and then chose the winners.
When asked about the number of contestants who applied for the grant, Pugh said it was “more than a dozen.”
Da Costa informed the Amsterdam News that her check cleared as soon as she was announced as the winner.
“I am a member of Carver Bank, so that check cleared instantly.”
Jenkins, who has been a business owner for 25 years, shared advice for the upcoming applicants who wish to apply in 2023.
“Think outside the box, think where you can make the most impact in terms of your footprint—look at sustainability and just have that be a part of your ongoing narrative,” she said.
To stay up-to-date with Carver Bank and their upcoming competitions, you can follow them on Facebook and Instagram @Carverbanknyc.